Archive for May, 2005

Why your credit report is important

When you attend your first credit counseling session, your credit counselor will explain the importance of your credit report.
Your credit report is a summary of your credit information, prepared by an independent credit reporting agency.  They get information about your past payment history, your current debt levels, your employment status, and various other personal information, and summarize it into a report that is then used by lenders to decide if they will lend you money.
A clean credit report, with no bad debts and late payments, is important, because it allows you to borrow money, and it will get you the best possible interest rates, and that is why a clean credit report is so important.
If your credit report is not in perfect shape, make an appointment with a credit counselor to review your options.